A society is composed of 3 individuals: i, j,k. There exists 4 alternatives: A,B,C,D. Individual preferences...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A society is composed of 3 individuals: i, j,k. There exists 4 alternatives: A,B,C,D. Individual preferences are given by Ai Bi Ci D B>, D, C, A AK BYkC>k D. For each of the methods below, find the resulting social ranking. 1.1 Start with the entire set of alternatives and count how many voters prefer each alternative the most. If one alternative is preferred the most by more individuals than any other alternative, then place this alternative at the top of the social ranking. Now consider only the set of remaining alternatives and repeat the process to find the second best alternative in the social ranking. Continue until all alternatives are ranked. First, each individual eliminates the alternative he or she prefers the least. If more than one alternative is eliminated, place last the one eliminated by more individuals. Repeat until you have ranked all alterna tives. You might have noticed that both systems violate Universal Domain. 1.3 With an example with three individuals, i, j, k, and three alternatives, A, B, C, show that the system in 1.2 violates Universal Domain. A society is composed of 3 individuals: i, j,k. There exists 4 alternatives: A,B,C,D. Individual preferences are given by Ai Bi Ci D B>, D, C, A AK BYkC>k D. For each of the methods below, find the resulting social ranking. 1.1 Start with the entire set of alternatives and count how many voters prefer each alternative the most. If one alternative is preferred the most by more individuals than any other alternative, then place this alternative at the top of the social ranking. Now consider only the set of remaining alternatives and repeat the process to find the second best alternative in the social ranking. Continue until all alternatives are ranked. First, each individual eliminates the alternative he or she prefers the least. If more than one alternative is eliminated, place last the one eliminated by more individuals. Repeat until you have ranked all alterna tives. You might have noticed that both systems violate Universal Domain. A society is composed of 3 individuals: i, j,k. There exists 4 alternatives: A,B,C,D. Individual preferences are given by Ai Bi Ci D B>, D, C, A AK BYkC>k D. For each of the methods below, find the resulting social ranking. 1.1 Start with the entire set of alternatives and count how many voters prefer each alternative the most. If one alternative is preferred the most by more individuals than any other alternative, then place this alternative at the top of the social ranking. Now consider only the set of remaining alternatives and repeat the process to find the second best alternative in the social ranking. Continue until all alternatives are ranked. First, each individual eliminates the alternative he or she prefers the least. If more than one alternative is eliminated, place last the one eliminated by more individuals. Repeat until you have ranked all alterna tives. You might have noticed that both systems violate Universal Domain. 1.3 With an example with three individuals, i, j, k, and three alternatives, A, B, C, show that the system in 1.2 violates Universal Domain. 1.3 With an example with three individuals, i, j, k, and three alternatives, A, B, C, show that the system in 1.2 violates Universal Domain.
Expert Answer:
Answer rating: 100% (QA)
ANSWER 11 Using the 11 method we start with the entire set of alternatives A B C D Alternative A is preferred the most by individual i Alternative B i... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these economics questions

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1  CA11 of your textbook. (This guide follows the last case in the...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Darwin uses decision tree analysis in order to evaluate potential projects. The company has been looking at the launch of a new product which it believes has a 70 per cent probability of success. The...

In discussing the Taylor rule, John Taylor wrote, "I realize that there are differences of opinion about what is the best rule to guide policy and that some at the Fed (including Janet Yellen) now...

BusyBee Baking Company produces a variety of breads. The plant manager would like to expand production into sweet rolls as well. The average price of a loaf of bread is $1. Anticipated price for a...

You have collected the following data: If you randomly select one of these 10 numbers, what is the probability the number (X) will be ... a. equal to 4 ? b. equal to 7 ? c. less than 5 ? d. greater...

Although the equity method is a generally accepted accounting principle (GAAP), recognition of equity income has been criticized. What theoretical problems can opponents of the equity method...

A nondividendpaying stock has a current price of 800 ngwee. In any unit of time (t, t + 1) the price of the stock either increases by 25% or decreases by 20%. K1 held in cash between times t and t...

Davis, the CEO of BRS Inc., hired LBB & Associates Audit Firm to conduct audits for BRS, which LBB did for the years 2010 through 2014. Lopez served as the Engagement Partner for the 2010 through...

Note: This is a public facing windows server that VSI employee's access Question 1 Question 2 Several users were impacted during the attack on March 25th. Based on the attack signatures, what...

X(s) 10 A system with transfer function F(s) 40s +14s+1 f(t)= 10 sin(0.2t). Find the response x(t) at steady state. = is subject to a sinusoidal input 2 A certain system has a frequency response...

Calculate of the relevant profitably, liquidity, asset usage and investment ratios (ROS, ROA, RE, ROE, assets turnover, inventories turnover, account receivables turnover, account payable turnover,...

Determine the service water demand for each fixture in fixture units (FU), and then find the total demand in fixture units. Determine the required flow rate to the building. The demand weights in...

1. Given the following project, draw the project network diagram using the AoA (Activity on Arrow) notation. (5 points) A B C D E F 2. The table below shows the activities, immediate predecessors,...

In your audit of JJC Corporation you have found the following information: On January 1, 2022, JJC acquired 30% of Chiyo Companys voting shares for P10,000,000. The fair value of Chiyos net...

The diameter of a sphere is 18 in. Find the largest volume of regular pyramid of altitude 15 in. that can be cut from the sphere if the pyramid is (a) square, (b) pentagonal, (c) hexagonal, and (d)...

Scott Butterfield is selfemployed as a CPA. He uses the cash method of accounting, and his Social Security number is 644477833. His principal business code is 541211. Scott's CPA practice is...

Abigail (Abby) Boxer is a single mother working as a civilian accountant for the U.S. Army. Her Social Security number is 676733311 and she lives at 3456 Alamo Way, San Antonio, TX 78249. Helen,...

Bev and Ken Hair have been married for 3 years. They live at 3567 River Street, Springfield, MO 63126. Ken is a fulltime student at Southwest Missouri State University (SMSU) and Bev works as an...

Net profit is calculated in the (A) Trading account (B) Profit and loss account (C) Trial balance (D) Statement of financial position

To find the value of closing inventory at the end of a period we (A) Do this by physically counting the inventory (i.e. stocktaking) (B) Look in the inventory account (C) Deduct opening inventory...

Gross profit is (A) Excess of sales over cost of goods sold (B) Sales less purchases (C) Cost of goods sold + opening inventory (D) Net profit less expenses of the period
Study smarter with the SolutionInn App